(Asian Tech Press) Chinese fintech company Linklogis Inc. has partnered with Malaysia's Sunway Berhad (5211.KL), Thailand's Bangkok Bank PCL (BBL: Bangkok), to apply for a Malaysian digital bank licence, according to sources cited by Reuters.

The report said Sunway, the Malaysian conglomerate company, will hold a majority stake in the venture.

Bank Negara Malaysia (BNM), the central bank of Malaysia, said in late 2020 that it expects to issue five digital bank licenses in the first quarter of 2022.

It is worth noting that the deadline for submitting applications is June 30, 2021.

Coming up on the application deadline, the three Asian companies have collaborated to apply for what may be only five licenses available, hoping to increase the likelihood of success.